Abundance Wealth Counselors Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Abundance Wealth Counselors cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,002 shares of the medical research company’s stock after selling 43 shares during the period. Abundance Wealth Counselors’ holdings in Amgen were worth $2,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Talbot Financial LLC lifted its stake in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares during the period. Swiss National Bank boosted its stake in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC grew its position in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after acquiring an additional 2,954 shares during the period. Principal Financial Group Inc. raised its holdings in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after purchasing an additional 35,785 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AMGN shares. Bank of America reaffirmed an “underperform” rating and set a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. Piper Sandler decreased their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $314.00.

Amgen Price Performance

Shares of AMGN stock opened at $285.42 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a market capitalization of $153.42 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56. The stock’s 50-day simple moving average is $271.06 and its 200-day simple moving average is $304.53.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 EPS. As a group, equities analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.34%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 115.24%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.